Published on 7/29/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.29 million digital dual directional barrier notes linked to S&P 500
By Marisa Wong
Morgantown, W.Va., July 29 – HSBC USA Inc. priced $2.29 million of 0% digital dual directional barrier notes due July 30, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to negative 25%, the payout at maturity will be par plus the greater of the index return and 28%. If the index return is less than negative 25%, investors will be fully exposed to the decline from the initial level.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Digital dual directional barrier notes
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Underlying index: | S&P 500
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Amount: | $2,288,000
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Maturity: | July 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 25%, par plus greater of index return and 28%; if index return is less than negative 25%, 1% loss for every 1% that final index level is less than initial index level
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Initial index level: | 2,169.18
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Pricing date: | July 26
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Settlement date: | July 29
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 3.625%
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Cusip: | 40433UQF6
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